Schwab Charitable, the San Francisco-based provider of donor-advised funds, has announced that it facilitated 855,000 grants totaling $3.7 billion in fiscal year 2021 — a 13 percent year-over-year increase in total funding awarded to charities.

In all, Schwab Charitable account holders supported more than 113,000 charities across all fifty states and boosted the number of grants by 24 percent compared to the previous all-time highs set in fiscal year 2020. The organization also noted a 48 percent increase in the number of grants that were not designated for a specific purpose, and an overall increase in awards driven by technology, as 79 percent of grants in FY21 were handled through an automated review and approval process. In addition, approximately 60 percent of contributions to Schwab Charitable in FY21 were in the form of non-cash assets, including publicly traded securities, restricted stock, and private business interests.

"Schwab Charitable donors demonstrated extraordinary generosity during a particularly difficult twelve months," said Schwab Charitable president Sam Kang. "I am proud of our efforts to help increase their giving power at a time when charitable giving has never been more important. We are committed to providing donors and their financial advisors with the most efficient, tax-smart charitable giving solution while helping them explore new and impactful ways to achieve their philanthropic goals."

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